Latest news with #USAuthorities
Reuters
3 days ago
- Business
- Reuters
Swiss National Bank denies currency manipulation after being put on U.S. watch list
ZURICH, June 6 (Reuters) - The Swiss National Bank does not engage in currency manipulation, the central bank said on Friday, after the United States added Switzerland to a list of countries being monitored for unfair currency and trade practices. "The SNB does not engage in any manipulation of the Swiss franc," the SNB said after the publication of the U.S. Treasury Report on Thursday. "It does not seek to prevent adjustments in the balance of trade or to gain unfair competitive advantages for the Swiss economy," it added. The SNB said it remained in contact with U.S. authorities to explain Switzerland's economic situation and monetary policy, and would continue to use interest rates and forex market interventions to pursue its inflation target. The central bank declined to say whether further talks with the United States were planned, but said it acted in the interests of Switzerland, where it aims to keep annual price increases within a band of 0-2%. "Our monetary policy is geared towards the needs of Switzerland," the SNB said.
South China Morning Post
23-05-2025
- Business
- South China Morning Post
Japan probes Chinese solar panels over hidden device fears, power disruptions
Japan has launched an investigation into Chinese-made solar panels over fears they may contain hidden communication devices capable of disrupting the nation's power grid – a security concern that analysts say could accelerate a shift towards domestic clean-energy technology. Advertisement The inquiry follows recent findings by authorities in the United States and Europe earlier this month, who uncovered suspicious equipment embedded in these panels not listed in the official product specifications. The components were found in power inverters – devices that connect solar panels and wind turbines to electricity grids and allow remote access for updates. However, this equipment from at least two Chinese companies was not listed in their technical details. Experts quoted by Reuters said the unlisted equipment provides a communication channel unknown to the operator, potentially allowing remote circumvention of security firewalls. Allowing an external entity to remotely control inverters could disrupt power grids, damage energy infrastructure, and cause blackouts, threatening national energy security. In conflict, the ability to cut or reduce the power supply becomes a powerful weapon. Advertisement The Japanese government has started examining imported solar panels to determine whether similar undeclared equipment has been added to units sold in the country.
CTV News
22-05-2025
- Politics
- CTV News
Supreme Court won't review decision to send seized material to U.S. authorities
The Supreme Court of Canada is framed between tulips in Ottawa on Monday, May 6, 2024. THE CANADIAN PRESS/Sean Kilpatrick OTTAWA — The Supreme Court of Canada will not review a decision to send information to U.S. authorities investigating commercial espionage allegations. The United States asked for Canada's assistance in 2017 to obtain and execute a search warrant at JYS Technologies' office in Brossard, Que. The federal justice minister at the time approved the request and Canadian police executed the search warrant in January 2018, seizing such items as computers, phones, memory keys and integrated circuits. The Quebec Superior Court granted an order to send the material seized in the search to the United States, a decision that was upheld by the province's Court of Appeal. The Court of Appeal also paused the ruling pending the Supreme Court's decision on whether to hear the case. The Supreme Court, following its usual practice, gave no reasons for refusing to hear the matter. This report by The Canadian Press was first published May 22, 2025. Jim Bronskill, The Canadian Press
Bloomberg
16-05-2025
- Business
- Bloomberg
Swiss Had Good Exchange With US on Currency, SNB Says
Switzerland has had productive talks with the US on the central bank's currency interventions, Swiss National Bank President Martin Schlegel said, rejecting the suggestion that the country manipulates the franc's exchange rate. 'We are no currency manipulator,' he said in Lucerne on Friday, adding that 'we had a constructive conversation with the US authorities' on the topic.
